For example, if an insurance agency wants to begin offering coverage to medical companies, they can partner with an experienced MGA to create new policies. Companies and insurance agencies may reach out to an MGA to provide a detailed risk evaluation for a specific field. For example, they can provide coverage for employee benefits or medical malpractice. They can focus on the following specialties:Ĭoverage fields: Some MGAs become experts in specific coverage areas. MGAs typically specialize in a particular topic and become experts in their field. An MGA can sell policies and also approve them, set prices and settle claims. Traditional insurance agents sell insurance policies to customers. Underwriting means an MGA can assess a customer's risk and offer them insurance. What is an MGA in insurance?Ī managing general agent (MGA) is a type of insurance agent who has the authority to underwrite insurance policies. In this article, we explain what an MGA is, what they do, the skills they use and the steps you can take to begin your MGA career. Learning more about the MGA career could help you decide if it's the right opportunity for you. A managing general agent (MGA) is one type of specialized insurance professional who provides coverage to companies and individuals. If you are interested in a career within the insurance industry, there are many roles you can consider.
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